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China to expand imports from ASEAN: Premier Wen


13:20, October 21, 2011

NANNING, Oct. 21 (Xinhua) -- Chinese Premier Wen Jiabao said Friday that China will continue to expand imports from the Association of Southeast Asian Nations (ASEAN) and further enhance the two sides' economic and trade cooperation.

"China is ready to continue expanding imports of competitive products from ASEAN countries and find proper solutions to the problems in the development of the China-ASEAN Free Trade Area (CAFTA)," Wen said in a keynote speech at the opening ceremony of the eighth China-ASEAN Business and Investment Summit (CABIS) in southwest China's Nanning City.

He said China and ASEAN will build the China-ASEAN Plaza in Nanning, capital of Guangxi Zhuang Autonomous Region, to serve as an exhibition and marketing platform and logistic base for products from both sides.

Wen hoped ASEAN companies would use that platform to win a bigger share of the Chinese market.

China and ASEAN saw trade surge 37.5 percent year-on-year to 292.8 billion U.S. dollars in 2010, the year when the two sides established the free trade area, according to the Customs data.

China's imports from ASEAN, mostly mechanical and electrical products, soared 44.8 percent from a year earlier in 2010 while exports to ASEAN rose 30.1 percent, bringing China's trade deficit with ASEAN to more than 30 times the amount of the previous year.

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helen at 2011-10-21175.136.169.*
Excellent move to upgrade and enhance China-Asean economic co-operation. This goes a long way to prevent their relationship from being distracted and disrupted by evil forces across the Pacific ocean. In the final analysis, economics plays the most important part with Asean countries and this is the only thing they understand ....

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